Peak China
“Country Garden Shares, Bonds Sink Amid Report of Missed Payment”
“Country Garden Holdings Co.’s stock and bonds plunged, with short-sellers swarming over China’s sixth-largest developer by sales, as scrutiny intensified over its operations and ability to meet debt payments.”
BRICS, RICS, DICKS.
“China Deflation Threat Grows as Companies Cut Prices to Survive”
“When China abandoned pandemic restrictions after three years of stringent controls, Nie Xingquan was expecting booming sales for his hand-made leather shoes. Instead, demand has been so poor that he’s had to cut prices 3% from a year ago and reduce his profits.
It’s an ominous sign of the deflationary pressure that’s hitting Chinese businesses as the economy weakens, and threatening to undermine Beijing’s stimulus plans if consumers opt to defer spending.”